The Ethiopian government is offering to sell a bigger portion of Ethio Telecom as it relaunches the partial privatization of the state-owned telco, upping the stake offered from 40% to 45%.
“Over the last decade, Ethiopia has become one of the fastest growing economies in Africa. Its young population, high gross domestic product growth rate, and increased private sector investment offers valuable growth opportunities. Further, low tele density in Ethiopia highlights the huge untapped potential in Ethiopia’s telecommunication sector,” said the Ethiopia Ministry of Finance in a statement. “The company’s robust infrastructure coupled with its strong financial performance will offer significant competitive advantage to any investor.”
In November 2022, the government revived its plans to sell the stake and announced a strategy to issue another private telecommunications license in the country.
